In a new report from Parks Associates, the researcher reports a significant drop in spending and a declining number of services viewers subscribe to.
"Consumers are spending less, but rather than go without, many are using ad-based alternatives to save on costs," said Sarah Lee, Research Analyst, Parks Associates. "A service needs to provide unique and ongoing value if it is to charge a premium."
"All categories of household services face challenges, as consumers reevaluate their spending and subscriptions," said Elizabeth Parks, President and CMO, Parks Associates. "A focus on value and education, the user interface, and the customer experience is what will drive the next generation of services in the home."
The results are in line with Park’s previous research last fall that reported a steep 25% decline in the number of streaming subscriptions since 2021 with nearly one-third (31%) of households having used free ad-based services by the end of 2022.
From the article, "Are Viewers Cutting Back on Streaming?" by Tom Butts
Today, connected devices can communicate with other connected devices, provide remote control, automate decisions and take actions based upon the data gathered. They can also receive automatic firmwar...
Parks Associates took a look at the smart home’s competitive landscape—and how providers should prepare for the market’s future—in its new report, “Smart Home: A Roadmap for Strategic Planning.” “T...
“Consumer interaction with the devices and services in their lives – at home, in the car, on the go – will continue to evolve in 2017 to be more personal and targeted,” Jennifer Kent, director, resear...
This year should sway even more converts, as it will mark the proliferation of live television broadcast over the Internet. That’s because a number of entertainment power-players are making it easi...
